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Business News

Location American Business News for 5 February 2021

Cathie Wood Is Wall Street's Hottest Hand. Maybe Too Hot.

Wall Street Journal - 5 Feb 2021 18:54
ARK Investment's money under management grew more than fivefold from March to the end of last year. But when funds get too big, too fast, they often can't sustain their performance.
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The conditional approval from the U.S. banking regulator follows Anchorage's approval last month.
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ArmorFi's CTO has also offered to get a tattoo chosen by the ethical hacker who found the bug.
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The Senate voted to progress Biden's $1.9 trillion COVID-19 stimulus in an all-night session where VP Harris was the tiebreaker The budget resolution approved Friday morning means President Joe Biden can pass his stimulus bill with no Republican support if negotiations fail.
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The 5 best home safes in 2021

Business Insider - 5 Feb 2021 22:49
The 5 best home safes in 2021 Make sure that all your important documents and other valuables are secure with the right safe. These are the best home safes in 2021.
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Robot Motherships To Launch Drone Swarms From Sea, Underwater, Air And Near-Space Metal Shark's unmanned vessel is just the latest for a swarms of attack drones -- new motherships in the form of robot submarines, unmanned jets and stratospheric balloons are also on the way as different arms race to eq...
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Guggenheim Investments Increases Bitcoin Fair Value Estimate -- Says BTC Price Could Reach $600K Guggenheim Global Chief Investment Officer Scott Minerd has increased his bitcoin fair value estimate. He now says that the price of the cryptocurrency could reach $600K based on his firm’s fundamental research. Guggen...
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Clover Health stock drops on allegations it's facing DOJ probe The King of SPACs is under fire from a short-seller gunning for a crown of his own. Shares in Clover Health were down more than 12 percent on Thursday after an excoriating report from an up-and-coming short seller that r...
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Ford lost $1.3 billion in 2020 and will slow production due to chip shortages. The company said it was increasing spending on developing electric vehicles as the shift away from conventional autos accelerates.
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Bitcoin and Ethereum Eye Fresh Rally, Altcoins Extend Gains Bitcoin price is currently (12:55 PM UTC) trading above USD 38,000 and if the bulls succeed to keep this level, the price could surge towards the USD 40,000 level. Besides, most major altcoins might continue moving highe...
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Boeing's New Big Plane Is Its Big New Problem

Wall Street Journal - 5 Feb 2021 14:59
Boeing's New Big Plane Is Its Big New Problem The 777X is stretching out development, racking up a huge charge and complicating the plane maker's bid to navigate the Covid-19 pandemic.
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Fauci explains why you should keep wearing a face mask after receiving a COVID-19 shot There is not enough data to say vaccines prevent coronavirus transmission, Fauci said. You may still be able to spread the virus to vulnerable people.
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U.S. stocks on Friday morning are indicated higher, with the benchmarks on track for the best weekly gain in three months, as investors watched for the monthly reading of the state of the country's labor market.
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Amazon's Retail Side Won't Be a Side Hustle

Wall Street Journal - 5 Feb 2021 14:00
The elevation of Amazon's cloud boss to the chief executive role won't change the company's dependence on its core e-commerce business.
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10 things you need to know before the opening bell

Business Insider - 5 Feb 2021 13:18
10 things you need to know before the opening bell This is what traders are talking about.
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Does Adobe's Stock Have 20% Growth Potential? Having grown 43% since the end of 2019, Adobe's stock still has potential to grow. ADBE's stock grew from $330 at the end of Dec 2019 to near $480 now, compared to the S&P 500 which gained 16% since the end of 2019. The ...
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Amazon Would Likely Pay Even More Tax Under Biden Plan

Wall Street Journal - 5 Feb 2021 12:30
Amazon Would Likely Pay Even More Tax Under Biden Plan Amazon reported $1.8 billion in current U.S. tax liability for 2020, a departure from the tiny or negative tax costs it posted in prior years. It said a surge in pretax income last year led to the sudden rise in its repo...
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The Treasury Department, SEC and other regulators discussed market functionality and recent trading practices in equity, commodity and related markets.
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The 10-Year Treasury Yield Keeps Going Higher And Higher Fed officials talk about how rates will be kept low for the time being but the bond market seems to have other ideas.
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After Being Held at Arm's Length, DraftKings Gets Its Super Bowl Ad Embrace Just 11 months after the pandemic paused professional sports and put a halt to DraftKings' entire operation--costing the company millions--the sports betting platform has made it to the Super Bowl. With all the pomp and ...
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SoftBank-Backed Greensill Delays Fundraising

Wall Street Journal - 5 Feb 2021 21:55
The supply-chain finance company says it needs money to expand, but it has also faced several client defaults.
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Many New ETFs, Forced to Chase Trends, End Up Faring Poorly

Wall Street Journal - 5 Feb 2021 21:00
A study finds that many new ETFs invest in overvalued stocks, and then lag behind the broad market's returns.
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